Showing 1 - 10 of 111
We study search behavior in a generalized "secretary problem" environment in which consumers search sequentially for … make no distributional assumptions about the quality of the alternatives. Rather, at each stage of the search the consumers …. Our study departs from previous experimental investigations of the secretary problem by including search costs and …
Persistent link: https://www.econbiz.de/10005408222
of costly search to discover prices. We ask whether such equilibria can be learnt when sellers adjust prices adaptively …
Persistent link: https://www.econbiz.de/10005118556
first half of the paper, I present an equilibrium matching model where heterogeneous workers and firms learn about match … yields an assortative matching result that predicts a negative correlation between estimated person and firm effects, which … matching model implies a specific structure for the error covariance. I exploit this structure to test whether earnings …
Persistent link: https://www.econbiz.de/10005125778
We examine a simple bargaining setting, where heterogeneous buyers and sellers are repeatedly matched with each other. We begin by characterizing efficiency in such a dynamic setting, and discuss how it differs from efficiency in a centralized static setting. We then study the allocations which...
Persistent link: https://www.econbiz.de/10005062338
This paper develops a model of pricing and advertising in a matching environment with capacity constrained sellers … advertising level, and market structure. The relationship results from a trade off between a price effect and a market structure-matching …
Persistent link: https://www.econbiz.de/10005076903
We examine whether a simple agent--based model can generate asset price bubbles and crashes of the type observed in a series of laboratory asset market experiments beginning with the work of Smith, Suchanek and Williams (1988). We follow the methodology of Gode and Sunder (1993, 1997) and...
Persistent link: https://www.econbiz.de/10005076911
This paper documents the delayed adoption of a major technological innovation: the adoption of the diesel locomotive in the US railway industry. Contrary to other instances of major technological innovations, the delay in the adoption of the diesel locomotive was not associated with an initial...
Persistent link: https://www.econbiz.de/10005077077
This paper aims at studying the effects of learning - seen as a possible source of individual heterogeneity - on team functioning, in an experimental game requiring cooperation and coordination. It contributes to the new emergent cognitive approach to Economics. The empirical analysis starts...
Persistent link: https://www.econbiz.de/10005125572
Shafer's evidence theory is a branch of the mathematics of uncertain reasoning that allows for novel possibilities to be conceived by a decision-maker. Many of its findings exhibit striking similarities with an alternative decision theory purported by Shackle in the 1950s, before expected...
Persistent link: https://www.econbiz.de/10005125582
This paper presents experimental evidence about how individuals learn from information that comes from inside versus outside their ethnic group. In the experiment, Thai subjects observed information that came from Americans and other Thais that they could use to help them answer a series of...
Persistent link: https://www.econbiz.de/10005125584